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RESOLUTION

On implementation of the Civil Code

THE NATIONAL ASSEMBLY OF THE SOCIALIST REPUBLIC OF VIETNAM

Pursuant to the 1992 Constitution of the Socialist Republic of Vietnam, which was amended and supplemented under Resolution No. 51/2001/QH10 of December 25, 2001, of the Xth National Assembly, the 10th session,

RESOLVES:

1. The Civil Code was passed on June 14, 2005, by the XIth National Assembly of the Socialist Republic of Vietnam, at its 7th session, and takes effect as from January 1, 2006.

This Civil Code shall replace the Civil Code passed on October 28, 1995, by the National Assembly.

The September 29, 1989 Ordinance on Economic Contracts shall cease to be effective as from the effective date of the Civil Code.

2. For civil transactions established before the effective date of the Civil Code, the application of law shall be provided as follows:

a/ For civil transactions which are being performed and have their contents and forms compatible with the provisions of the Civil Code, the provisions of the Civil Code shall apply;

b/ For civil transactions which are being performed and have their contents and forms variant with the provisions of the Civil Code, or civil transactions completely performed before the effective date of the Civil Code but entailing disputes, the provisions of the 1995 Civil Code and the documents guiding the implementation of the 1995 Civil Code shall apply to the settlement thereof;

c/ The statute of limitations for enjoyment of civil rights and the statute of limitations for exemption from civil obligations shall comply with the provisions of the Civil Code.

3. The statute of limitations for requesting the court to declare null and void civil transactions established after the date the Civil Code is promulgated shall comply with the provisions of the Civil Code.

4. The Government, the Supreme People's Court and the Supreme People's Procuracy shall, within the ambit of their respective functions and tasks, have the responsibilities:

a/ To review by themselves or in coordination with the concerned agencies the current provisions of civil law in order to annul, amend, supplement them or promulgate new documents or propose the National Assembly or the National Assembly Standing Committee to annul, amend or supplement them or to promulgate new documents to suit the provisions of the Civil Code, ensuring the effect of the Civil Code as from January 1, 2006;

b/ To coordinate with the Vietnam Fatherland Front Central Committee and the Front's member organizations in propagating and disseminating the Civil Code widely among public servants and people so as to contribute to enhancing socialist legality, promoting the effect of the Civil Code in the protection of the interests of the State, legitimate rights and interests of individuals, agencies and organizations.

5. The National Assembly Standing Committee, the Government, the Supreme People's Court, and the Supreme People's Procuracy shall, within the ambit of their respective functions and tasks, guide the implementation of this Resolution.

This Resolution was adopted on June 14, 2005, by the XIth National Assembly of the Socialist Republic of Vietnam, at its 7th session.